Bayer ($BAY) has partnered with micro-cap diagnostics player T2 Biosystems ($TTOO) as part of its R&D efforts in blood coagulation. The pair will develop tools and assays to drive drug discovery and advance biomarkers for certain Bayer hemostasis-related programs.
Although the partners just disclosed the deal now, they have been working together for the last year and recently extended the partnership to include several preclinical and early clinical programs. Bayer has previously disclosed Phase II candidate FXI-ASO in thrombosis, which is characterized by excessive clotting. It also has a pair of Phase I candidates in thrombosis, one an FXIa inhibitor and the other an FXIa antibody and an anti-TFPI antibody Phase I hemophilia candidate
"We are very enthusiastic about our collaboration with Bayer and the important validation it represents for our T2MR technology in the field of hemostasis," said T2 Biosystems CEO John McDonough in a statement. "Together with Bayer, we look forward to continuing the exploration of the clinical potential of our platform to provide improved patient care in this area of significant unmet need.”
The Lexington, MA-based company’s technology is based on using miniaturized magnetic resonance to detect how water molecules react to magnetic fields. It’s intended to enable the detection of molecular targets, immunodiagnostics and hemostasis measurements. The company claims that its T2MR diagnostic platform can enable better selection of patient populations for clinical trials, thereby reducing timelines and costs.
Hemostasis is the first stage of wound healing in which proteins and biochemical signals interact to regulate bleeding and clotting. Patients with impaired hemostasis cannot form blood clots properly, or they are hypercoaguable, forming clots when the body does not need to. T2MR measures changes in blood sample viscosity and is being developed to analyze platelet activity, fibrinolysis and clotting time.
T2 Biosystems raised $57 million in an August 2014 IPO; its share price is down to about half of the $11 IPO offer price. Shares were up about 3% on the Bayer news, giving it about a $128 million market cap.
- here is the announcement
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